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Marks & Spencer's Sales Beat Expectations

LONDON -- Marks & Spencer Group PLC Tuesday reported a smaller-than-expected drop in fiscal fourth-quarter U.K. sales as the retailer cut prices and sharpened its product offering in food, clothing and homewares.

The nation's biggest department store operator said sales from U.K. stores open at least a year dropped 4.2% in the three months to March 28, an improvement on the 7.1% decline in the third quarter, which included the key Christmas trading period, and better than market expectations for a 7% decline.